hey Luc question about what the best move would be now. I was watching EOS and saw a panic drop below the what I thought was a base at around 1.8 and bought in at around 1.715 expecting it to rebound back soon, But instead it kept going down. Would the best move be to hold and wait until the price goes back up past 1.71? Or sell at the next small rebound and buy back in at a lower price?
Also was it wrong to assume that 1.8 was a base? Because it shows a nice 11% bounce the first time it hit it but had almost no rebound when it hit 1.8 this time. !
Screen Shot 2017-07-26 at 4.11.50 AM.png
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I don't think that was a base, well not for me. There was no proper bounce from it to call it a base.
The previous one at 1.7 something was a base. As Luck mentioned SO MANY times, you need to read chart for at least last 2 months.
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I'm by no means an expert (never traded before Luc's vids) but I've tried to zoom out and draw some bases. Looks like it did rebound
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You are right, there was a clear bounce to 170. This chart has bigger bounces and in the longer context the 170 was the only sure level for this bounce. I think the smaller ones could be significant if u want to trade fast in a smaller timeframe, but it isn't that probable to return to higher levels.
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You drew a base at 1.80 and I agree that the bounce off that level signifies a base.. you should be fine.. hopefully you have a more capital to get in a bit more if you it goes lower..
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The third one is almost negligible. The second one looks fine but this chart seems to have big bounces, that's why it only returned to the previous one. It bounced to 170 which is the biggest of all of them, a clear base. You should look into average size of the bounce from previous 1,2,3 months.
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Also keep in mind as Luc mentioned in the video that there was the big news thats kind of dragging everything down. So the dips are not so much panics from cracked bases but more so the news.
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